Question: Damon is saving up money for a down payment on a house. He currently has $4412, but knows he can get a loan at

Damon is saving up money for a down payment on a house.

Damon is saving up money for a down payment on a house. He currently has $4412, but knows he can get a loan at a lower interest rate if he can put down $5266. If he invests the $4412 in an account that earns 4.5% annually, compounded monthly, how long will it take Damon to accumulate the $5266? Round your answer to two decimal places, if necessary.

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